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79		-= Outlook =
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81	81	Global economic growth is projected to contract sharply from 3.3% in 2019 to -3%22 in 2020, much worse than during the 2008-09 financial crisis. Rolling lockdowns and social distancing restrictions on account of the pandemic are expected to significantly impact economic activity in all major markets, and cause demand compression. In the immediate aftermath, enterprises are expected to downscale current investments, defer planned initiatives, cut costs and conserve cash. While this could inject volatility into TCS’ revenue growth, the company expects to gain market share from ensuing vendor consolidations.
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